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July 29, 2021

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Hello app drops plans to list in the US

Hello Inc, an app-based ride services provider backed by Ant Group, yesterday scrapped plans for an initial public offering in the United States following the tightened regulation over US-listed Chinese companies.

Hello, which offers two-wheeler services and a carpooling marketplace, said it no longer wishes to publicly float its shares in the US.

A top official at the US Securities and Exchange Commission said on Tuesday that Chinese companies listed on exchanges in the United States must disclose, as part of regular reporting obligations, any risks related to the regulatory environment and potential actions by the Chinese government.


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